Governor: no special session needed for FY17

Sep 21, 2017

Gov. Kim Reynolds announced Wednesday that no special session is needed for Fiscal Year 2017.

The expected shortfall for Iowa’s FY 2017 budget is $14.6 million. Reynolds will combine $13 million from the state’s economic emergency fund with the $1.6 million ending balance. This is the final action on the FY 2017 budget, which ended June 30, 2017. The state has $605 million in reserve funds after closing the FY 2017 books.

“This has been a difficult budget year, but I am pleased we were able to manage lower-than-expected revenues without cuts to education or Medicaid,” Reynolds said. “We have been monitoring funds daily since the end of the fiscal year on June 30 and took a measured approach in dealing with the state’s finances. We continue to closely monitor the current fiscal year’s balance sheet and do not believe action is needed at this time.”

Department of Management Director Dave Roederer held a budget briefing for members of the media Wednesday morning. He shared more with reporters, including: